#CryptoNewss The Trump administration is taking significant steps to establish the United States as a global cryptocurrency hub. Here are some key developments ¹ ²:

Executive Order: President Trump signed an executive order to support the growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy. This order focuses on regulatory clarity, promoting stablecoins, protecting crypto companies' access to banking services, and restricting central bank digital currencies.

Regulatory Framework: The administration aims to implement a clear regulatory framework for the crypto industry, with a presidential working group on digital asset markets submitting a report proposing comprehensive federal regulations for digital assets.

Crypto-Friendly Appointments: Trump has appointed crypto-friendly officials, such as David Sacks as the "Crypto and AI Czar" and Paul Atkins to head the SEC. These appointments signal a shift towards more permissive crypto policies.

Mortgage Changes: The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to explore counting cryptocurrency holdings as assets on mortgage applications. This move could broaden access to homeownership for individuals holding significant cryptocurrency assets.

Bitcoin Reserve: There's also a proposal for a national Bitcoin reserve, with Senator Cynthia Lummis introducing the Bitcoin Act of 2024 to create a strategic Bitcoin reserve.

Legislative Support: The Financial Innovation and Technology for the 21st Century Act (FIT21) has bipartisan support, which could classify cryptocurrency as a commodity and give the CFTC exclusive authority over cash or spot markets for digital commodities.

These developments indicate a significant shift in the US government's approach to cryptocurrency, with a focus on promoting innovation, clarity, and growth in the industry.